President Bola Tinubu, on Friday, said there would be no need to withdraw the tax reform bills from the National Assembly as recommended by the National Economic Council.
He argued that with the legislative process already in motion, inputs and necessary changes can be made without withdrawing the bills from the NASS.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, revealed the President’s position through a statement titled ‘Proposed tax reforms bills should go through the legislative process; inputs can be made at public hearings.’
It read, “President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.
“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice.
“He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.
“While urging the NEC to allow the process to take its full course, President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.”
Tinubu’s response comes barely 24 hours after the National Economic Council, Nigeria’s highest economic advisory body, asked that the tax reforms bill be withdrawn from the NASS for more comprehensive consultations.
Oyo State Governor, Seyi Makinde, announced this as part of resolutions reached at the council’s 144th meeting chaired by Vice President Kashim Shettima at the State House, Abuja.
Makinde told journalists that council members agreed that it was necessary to allow for consensus building and understanding of the bills among Nigerians.
He announced, “Today, NEC took a presentation from the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The primary focus is fair taxation, responsible borrowing and sustainable spending.
“After extensive deliberation, NEC noted the need for sufficient alignment between and amongst the stakeholders for the proposed reforms.
“So, Council, therefore, recommend the need to withdraw the bill currently before the National Assembly on tax reforms so that we can have wider consultations and also build consensus around these reforms for the benefit of the entire country, and also to give people…for them to know the vision and where we are moving the country in terms of tax reform because there is a lot of miscommunication, misinformation.”
While urging the NEC to allow the process to take its full course, President Tinubu welcomed further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.